Search Documents

By W. Irwin Moyer

Two methods for the rapid valuation of oil properties are in common use. The one best known and most widely used is the "per barrel" value, based on the present daily production of the well, without regard to its past performance or the history of the sand or pool from which it produces. The second method is the "time to pay out," or the lengt of time required for a well to place itself upon the credit side of the ledger, from which time the returns from its production (less the operating expenses) will be clear profit. The time basis for valuation is also commonly used in the appraisal of an undeveloped lease. In most oil fields, it is not thought good business to invest in production that will not pay out in at least 4 to 5 years. Nearly all buyers (except in certain regions of very persistent production like the deep-sand territory of the Appalachian field) expect wells to pay out in considerably less time than this. Like the barrel-per-day price, the time necessary for a well to pay out has been determined for each field, so that one frequently hears a field or district referred to as having a certain time to pay out. This is considered the norm for that field or district and the buyer and seller base their value, to greater or less extent, on their belief in the accuracy of this time. The writer long ago became convinced of the inaccuracy of the barrel-per-day method, except when greatly modified for local conditions, such as the age of the wells, their economic limit, operating conditions in the field, the future price of oil, and the persistence of the sand as a producer. When so modified, this method becomes more of an analytic or predicted probable-yield valuation. While the appraiser may not go through each step in a valuation based on future returnable revenue, his knowledge of the field and the local conditions surrounding his leases make it possible for him to estimate a fair sales value that, in many cases, will be a close approximation to the truth. This is quite different from she commonly understood barrel-per-day value, in that the conditions turrounding the sale of one lease or property at a fair market value may

Jan 1, 1923

By Dart Wantland, C. A. Heiland

There once was a little kid, whose lot was a very tough one until he grew up. His parents did not have much in common; from all indications, it is probable that the child was not wanted. His father Geology and his mother Physics separated shortly after his birth, which occurred during the World War amid a smoke screen of mathematics. He was kicked around a great deal. His parents could not agree on a name, and they finally christened him "Geophysics," for short. His relatives insisted that the name should be "Geophysical Prospecting," "Geophysical Exploration" or "Exploratory Geophysics"; though the youngster has grown up by now, this battle is still going on. His father did not think the child would amount to much until he began to show some unexpected talents, which were acquired, no doubt, from his mother Physics. His progress caused his father no little worry, and he began to wonder whether his offspring would help him in his business when he grew up or would set up shop in competition with the old man. His aunt Petroleum watched his growth with benevolent interest; his uncle Mining remained rather skeptical and cousin Civil Engineering not only assumed the attitude of the man from Missouri but was not much convinced even after he had been shown. Making a long story short, the kid decided that he had to stand on his own feet and get along as best he could. Having come from a good family he possessed some outstanding characteristics such as resourcefulness and a reasonable amount of business ability. He therefore decided that it would be to his advantage to follow in his father's and mother's footsteps as much as possible, and develop the good qualities of both. As a result, the youngster did fairly well for himself, and his relatives decided that it might be to their advantage to be on better terms with him. Father Geology had come to the conclusion that the boy could be very helpful to him and now wanted him to live in his house. His mother, who had brought him through the teething and measles stages, felt quite capable of bringing up the boy without the help of his father; and, as the fairer sex will do, would confide to a neighbor every now and then that his

Jan 1, 1940

By David A. Keys

The actual procedure in estimating depth of overburden from magnetic observations made on the surface will vary with the form of the deposit and any theoretical discussion will apply only so far as the form of the deposit conforms to the mathematical premises on which the theory is based. Since the shapes of natural deposits in the field cannot be expressed rigorously in mathematical form, the best that can be done is to assume some simple form and deduce results. Fortunately many small variations in form produce only slight changes in the estimated depth of overburden, therefore the methods have a definite practical value. For the theoretical treatment, magnetic ore deposits may be divided roughly into three classes, depending upon whether the magnetic anomalies may be considered to arise from (1) a single magnetic pole, (2) a dike or (3) a magnetic doublet. Particular cases, falling under one or other of these classes, have been discussed by different authors.1"4 In general, it may be stated that when the magnetic effects as measured on the surface are due only to one pole of the body, the other pole being so remote that its effect may be neglected, the resultant anomaly F at any point will vary as the inverse square of the distance r of the point from the pole, which may be expressed mathematically by F = k/r2, where k is a constant. When the deposit occurs in the form of a long, thin dike, the resultant anomaly will be of the form F = k'/r and when the deposit is in the shape of a lens, so that both poles have an appreciable effect on the surface, the result will be similar to that caused by a magnetic doublet, and the form will be F = k'/r3. The particular class under which a deposit falls may be deduced from the results of the magnetic survey. The second class is readily found, but there may be difficulty in deciding between the first and third. Isody-namic contours of both the vertical and horizontal anomalies will often be a good guide in making a correct decision. The correctness of the theoretical calculations may be checked in two ways. The first is to make laboratory models of various known shapes and pole distributions, to calculate the anomalies to be expected

Jan 1, 1940

By C. A. Heiland

THERE once was a little kid, whose lot was a very tough one until he grew up. His parents did not have much in common; from all indica-tions, it is probable that the child was not wanted. His father Geology and his mother Physics separated shortly after his birth, which occurred during the World War amid a smoke screen of mathematics. He was kicked around a great deal. His parents could not agree on a name, and they finally christened him "Geophysics," for short. His relatives insisted that the name should be "Geophysical Prospecting," "Geophys-ical Exploration" or "Exploratory Geophysics"; though the youngster has grown up by now, this battle is still going on. His father did not think the child would amount to much until he began to show some unexpected talents, which were acquired, no doubt, from his mother Physics. His progress caused his father no little worry, and he began to wonder whether his offspring would help him in his business when he grew up or would set up shop in competition with the old man. His aunt Petroleum watched his growth with benevolent interest; his uncle Mining remained rather skeptical and cousin Civil Engineering not only assumed the attitude of the man from Missouri but was not much con-vinced even after he had been shown. Making a long story short, the kid decided that he had to stand on his own feet and get along as best he could. Having come from a good family . he possessed some outstanding characteristics such as resourcefulness and a reasonable amount of business ability. He therefore decided that it would be to his advantage to follow in his father's and mother's foot-steps as much as possible, and develop the good qualities of both. As a result, the youngster did fairly well for himself, and his relatives decided that it might be to their advantage to be on better terms with him. Father Geology had come to the conclusion that the boy could be very helpful to him and now wanted him to live in his house. His mother, who had brought him through the teething and measles stages, felt quite capable of bringing up the boy without the help of his father; and, as the fairer sex will do, would confide to a neighbor every now and then that his

Jan 1, 1938

By David A. Keys

The actual procedure in estimating depth of overburden from magnetic observations made on the surface will vary with the form of the deposit and any theoretical discussion will apply only so far as the form of the deposit conforms to the mathematical premises on which the theory is based. Since the shapes of natural deposits in the field cannot be expressed rigorously in mathematical form, the best that can be done is to assume some simple form and deduce results. Fortunately many small variations in form produce only slight changes in the estimated depth of overburden, therefore the methods have a definite practical value. For the theoretical treatment, magnetic ore deposits may be divided roughly into three classes, depending upon whether the magnetic anomalies may be considered to arise from (1) a single magnetic pole, (2) a dike or (3) a magnetic doublet. Particular cases, falling under one or other of these classes, have been discussed by different authors.1"4 In general, it may be stated that when the magnetic effects as measured on the surface are due only to one pole of the body, the other pole being so remote that its effect may be neglected, the resultant anomaly F at any point will vary as the inverse square of the distance r of the point from the pole, which may be expressed mathematically by F = k/r2, where k is a constant. When the deposit occurs in the form of a long, thin dike, the resultant anomaly will be of the form F = k'/r and when the deposit is in the shape of a lens, so that both poles have an appreciable effect on the surface, the result will be similar to that caused by a magnetic doublet, and the form will be F = k'/r3. The particular class under which a deposit falls may be deduced from the results of the magnetic survey. The second class is readily found, but there may be difficulty in deciding between the first and third. Isody-namic contours of both the vertical and horizontal anomalies will often be a good guide in making a correct decision. The correctness of the theoretical calculations may be checked in two ways. The first is to make laboratory models of various known shapes and pole distributions, to calculate the anomalies to be expected

Jan 1, 1940

The primary purpose of the Institute is to advance the technologic and engineering arts embraced by it through interchange of knowledge. This can best be clone by the presentation and discussion of technical papers by its members. Short practical papers are especially welcome. An author should always satisfy himself that his material is of a quality that will he a credit to him and to the Institute. The preparation of a good paper frequently leads to a reorientation of the author's thoughts, and publication contributes much to the professional standing of the author. Members are urged to submit papers presenting the results of their work. Attention to the following suggestions will greatly further the prompt and efficient handling of manuscripts. 1. SUBJECTS: The subject must be within the field of the Institute. Original work, the results of field, plant, laboratory or theoretical investigations, new views on old but important problems and occasionally reviews of timely and important subjects of wide interest to our members may constitute the basis of a paper. The mere fact that the work is original does not necessarily justify publication: it must be of a substantial nature, of value to a reasonable number of our members and worthy of permanent record. It is seldom desirable to subdivide the results of a single research for publication in a variety of journals. Previous publication is usually a bar to acceptance. If any part of your paper has been published elsewhere and you regard repetition as absolutely necessary please so state in your covering letter. 2. CONSTRUCTION: Papers should be clearly and concisely written in good English. Care in this regard ensures wider reading and the saving in space permits the Institute to publish more papers. It is the experience of the Papers and Publications Committee that most papers can he improved by condensation. "Readers" who are asked to recommend acceptance or nonacceptance put particular emphasis on the length of the paper and the elimination of unnecessary or any extraneous material. The terminology and units employed should be those current in the particular field. An examination of Institute publications will afford useful guidance in such matters. Webster's New International Dictionary, 1935 edition, is the Institute's authority for spelling and style. Various abbreviations are used habitually; for instance, lb., pound; bbl., barrel or barrels; ft., foot or feet; hr., hour or hours; in., inch or inches; Fig. 1 but Figs. 2 and 3.

Jan 1, 1946

By F. E. Bash

PREVIOUS to the war, this country depended on Europe for its supply of a number of alloys of great importance in the manufacture of electrical apparatus and equipment. When this source was cut off shortly after the beginning of hostilities and the small stocks in the United States were exhausted, either inferior substitutes had to be used or the manufacture of the apparatus suspended. Since electrical equipment was of primary importance in the prosecution of the war, the substitutes had to be used until the composition and processes of manufacture of the alloys could be determined. Included among these alloys was one generally known as manganin, which is composed chiefly of copper and manganese and which, beside having a low-temperature coefficient of resistance, has a low thermal electromotive force against copper. These qualities make it valuable for the manufacture of electrical instruments and machines in which it is used in the shape of wire, rod, and strip. As a result of these circumstances, an investigation was started to deter mine how manganin could be made on a commercial basis so that a product of uniform quality and the necessary electrical characteristics could be produced. The object was to procure an alloy with temperature coefficient of resistance not greater than T 1 X 10-5 per ° C. and a thermal e.m.f. against copper no greater than that of the imported material. It is characteristic of manganin that the temperature-resistance curve is not a straight line but has a peak, which varies in position with different samples; it is most desirable, however, to have it at a temperature of 25° C. if possible. The coefficients of manganin from all records available ranged from a large negative to a large positive value. The composition as reported by different authorities is given in Table 1. Prof. Matthew A. Hunter, of Rensselaer Polytechnic Institute, made up a number of small melts of manganin in a graphite crucible and the one that he reported as having the best coefficient gave the following analysis: Copper, 83.6 per cent.; nickel 2.5 per cent.; manganese,-13.6 per cent.; iron, 0.3 per cent. An analysis of a sample of German manganin gave the following: Copper, 82.6 per cent.; nickel, 3.8 per cent.; manganese, 12.8 per cent.; iron 0.7 per cent.

Jan 9, 1919

By E. H. Hamilton

WHEN starting a series of experiments on the use of powdered coal in lead blast furnaces to replace coke, I realized that in copper smelting the problem is simpler because the sulfur recovers the copper in the form of matte. In lead smelting there are greater difficulties because a reducing atmosphere must be maintained in the active, zone corresponding to each tuyere in order to get the best recovery of lead. Therefore, the feed of powdered coal must be quite regular, uniform and under control. The molten products issuing from the taphole are the resultant of the work of all the tuyeres and it can readily be con-ceived that one part of the furnace may be forming slag with a higher lead content than the slag formed in other parts of the furnace. At first, we used only one tuyere situated on the back of the furnace. This was for the purpose of getting all of our regulations under the regular operating conditions. We tried every known system of feed and found they were not dependable and our present system was finally worked out, and so far as we know, is the only working system that will give uniformly good saving in lead blast furnaces. We placed a Bristol self-recording thermometer on the feed floor. This gives a 24-hr. continuous record of the temperature of the gases leaving the furnace. We put a self-recording gage on the "15-lb." air used in the injector. A second recording Bristol gage was put on the low-pressure air (40 oz.). I realized that it was necessary that we should know the exact weight of coal going into each tuyere and that it should 'be under observation at all times. L. W. Kirk was assigned to the problem and developed the open sight feed and the distributor, so that we now have the coal being fed into each tuyere in sight of the men in charge. We have an apothecary's balance beside the furnace, and the operator takes the pan and inserts it under the stream of falling powdered coal for one minute, and places the pan on the scale, the other scale pan having weights indicating the desired amount to be fed to each tuyere per minute.

Jan 10, 1922

By S. Fisher Morris

THE New River coal-field embraces that portion of the Appalachian coal formation which lies on the waters of the New River, principally in Fayette and Raleigh counties, West Virginia, covering a strip of territory about forty miles in length along the line of the Chesapeake and Ohio Railroad from Quinnimont to Kanawha Falls, where the New River empties into the Kanawha, the railroad following the banks of the river the whole distance. (See map.) Between Kanawha Falls and the Valley of the Ohio lies the great Kanawha region, and these two coal-fields possess a greater variety of coal than can be found in any other portion of the country, enabling them to furnish the best fuels for any of the various demands of manufacture or domestic use, the Kanawha region possessing many varieties of gas, hard splint, and cannel coal, and the New River region bituminous and semi-bituminous, steam and coking coal. The New River, in its westward course towards the Kanawha, has cut its way entirely through the Seral conglomerate or No. XII of the Pennsylvania Reports, the Umbral red shales of No. XI appearing at the foot of the mountains at the eastern end of the region at Quinnimont, one of the upper ledges of the Conglomerate forming the summits; while at the western end, at Kanawha Falls, the top of the Conglomerate is nearly down to the level of the river, a portion of the " Lower Productive Measures" forming the greater portion of the mountains. These mountains rise abruptly from the banks of the river to a height of from 800 to 1200 feet, leaving only here and there narrow strips of bottom land, a few acres in extent; and as the measures consist principally of hard sandstones, shales, and conglomerates lying in a nearly horizontal position, the mountain-sides are very precipitous, with many long and high cliffs, which, with the great height of the mountains, give the country a very rugged appearance. Along the sides of these mountains fronting on the New River and its many tributaries there are exposed the outcroppings of several veins of bituminous and, semi-bituminous coal, varying in thickness from a few inches to over four feet, five of them being workable, or

Jan 1, 1880

By P. E. Fitzgerald, J. C. Gindlesperger

1. The Acidizer (Trade Publication of Dowell Inc.): No. 1. Aspects of Acidizing. No. 2. Inhibited Acid. No. 3. The Value of Acidizing. No. 4. The Chemistry of Acidizing. No. 5. Jelly Seal in Acidizing. No. 6. Loosening Stuck Drill Pipe. No. 7. The Geology of Acidizing. 2. J. C. Albright: Acid Is Being Used for Cleaning Intake Wells in Water-flooded Areas. Oil Weekly (Sept. 23, 1935) 24. 3. D. H. Bancroft: Acid Tests Increase Production of Zwolle Wells, Miller County, Arkansas. Oil and Gas Jnl. (Dec. 22, 1932) 42. 4. A. H. Bell: Possible Areas for Acid Treatment in Illinois. Pub. of Illinois- Indiana Petr. Assn. and lllinois Geol. Survey (1934) 49. 5. N. A. Best: Treating Limestone Formations Consists of More than Pouring Hydrochloric Acid in the Well. Oil and Gas Jnl. (April 5, 1934) 54. 6. L. G. E. Bignell: Sealing Off Salt Water from Oil-bearing Formations. Oil and Gas Jnl. (Jan. 30, 1936) 59. 7. L. G. E, Bignell: Acidizing Upper Limestone Formation Facilitated by the Use of Jelly Seal. Oil and Gas Jnl. (March 5, 1936) 30. 8. L. G. E. Bignell: Bailing, Shooting, Tubing and Acidizing Have All Been Tried in Deep Test at Binger, Oklahoma. Oil and Gas Jnl. (May 10, 1934) 38. 9. L. G. E. Bignell: Dowel1 Incorporated Increasing Its Field Service for Acid Treatment of Wells. Oil and Gas Jnl. (June 7, 1934) 62. 10. L. C. Chamberlain, Jr. and P. E. Fitzgerald: Oil Well Acidizing in Michigan. Mich. Acad. Sci. Papers (March 1937). 11. M. E. Chapman: Some of the Theoretical and Practical Aspects of the Acid Treatment of Limestone Wells. Oil and Gas Jnl. (Oct. 12, 1933) 10. 12. C. E. Clason and J. G. Staudt: Limestone Reservoir Rocks of Kansas React Favorably to Acid Treatment. Oil and Gas Jnl. (April 25, 1935) 53. 13. W. F. Cloud: Cleaning and Reconditioning Oil Wells—Reconditioning by Use of Acid (Petroleum Production 1937), 389. University of Oklahoma Press, 1937,' 14. K. A. Covell: Developments in Eastern Production Practice. Acid Treatment of Michigan Wells. Amer. Petr. Inst. Prod. Bull. 213 (1934) 77; Oil and Gas Jnl. (May 31, 1934) 89; Oil Weekly (May 28, 1934) 17. 15. B. A. Cunningham: Acid Treatment of Lime Formations. Amer. Petr. Inst. Paper 901 (1933) 9D, 1-7. 16. 0. I. DeSchon: Pondera Production up 22,000 Barrels. Montana Oil & Min. Jnl. (Jan. 26, 1935) 1.

Jan 1, 1937

By Raymond J. Kujawa

For general purposes, insulating materials may be any of those mineral substances that provide a barrier between a desired human environmental feature and an unwanted condition. In this sense, radiation shields, electrical insulations, cryogenic insulation, and acoustical barriers would qualify. For this chapter only the thermal and acoustic insulations used for the median range of normal comfort control will be covered. Because of their magnitude and complexity the other fields are left to other chapters. In another sense, this section deals only with the ultra-lightweight aggregates and insulations, rather than the multitude of light-weight structural materials. Definitions and Uses The insulating materials covered in this chapter are the three groups of mineral products that provide thermal or acoustic barriers through the median temperatures encountered in home and industry. The three mineral categories are perlite, vermiculite, and the silicate wools whether they be categorized as glass, mineral, or rock. Perlites are those amorphous aluminum silicates with minor impurities that take the form of a felsitic, glassy lava possessing a pearl-like luster and concentric cracking. In a more commercial sense the term is used to describe either the natural or processed acidic, volcanic glass, containing from 2 to 5% combined water, that may be converted to a frothy mass by heating rapidly to the softening point. Vermiculites are micaceous, hydrated magnesium iron aluminum sheet silicates of varying composition. Commercial vermiculites are any of these sheet silicates that are capable of sufficient expansion on rapid heating to make an acceptable, highly porous product. Mineral wools, rock wools, silicate cottons, glass fiber are generic names for manufactured fibers in which the fiber forming substance may be slag, certain rocks, or glass. The fibers may be made by a blowing or spinning process. The resultant fibers may be felted or matted or gathered in the manner best suited to the use. The three groups may be used competitively to insulate ceilings and walls. The fibers have strong advantages in this area as they may be manufactured in batts that are stable in residential wall construction. The perlites and vermiculites are more suited to insulate cores and cavities of masonry walls and as plaster and concrete aggregates for thermal insulations. Vermiculite is widely used for insulating attic floors. Because of manufacturing techniques and controls, the glass fibers have made great strides as composites in the plastics industry but only a few of these uses classify in the insulation category.

Jan 1, 1975

By C. A. Heiland, Dart Wantland

There once was a little kid, whose lot was a very tough one until he grew up. His parents did not have much in common; from all indications, it is probable that the child was not wanted. His father Geology and his mother Physics separated shortly after his birth, which occurred during the World War amid a smoke screen of mathematics. He was kicked around a great deal. His parents could not agree on a name, and they finally christened him "Geophysics," for short. His relatives insisted that the name should be "Geophysical Prospecting," "Geophysical Exploration" or "Exploratory Geophysics"; though the youngster has grown up by now, this battle is still going on. His father did not think the child would amount to much until he began to show some unexpected talents, which were acquired, no doubt, from his mother Physics. His progress caused his father no little worry, and he began to wonder whether his offspring would help him in his business when he grew up or would set up shop in competition with the old man. His aunt Petroleum watched his growth with benevolent interest; his uncle Mining remained rather skeptical and cousin Civil Engineering not only assumed the attitude of the man from Missouri but was not much convinced even after he had been shown. Making a long story short, the kid decided that he had to stand on his own feet and get along as best he could. Having come from a good family he possessed some outstanding characteristics such as resourcefulness and a reasonable amount of business ability. He therefore decided that it would be to his advantage to follow in his father's and mother's footsteps as much as possible, and develop the good qualities of both. As a result, the youngster did fairly well for himself, and his relatives decided that it might be to their advantage to be on better terms with him. Father Geology had come to the conclusion that the boy could be very helpful to him and now wanted him to live in his house. His mother, who had brought him through the teething and measles stages, felt quite capable of bringing up the boy without the help of his father; and, as the fairer sex will do, would confide to a neighbor every now and then that his

Jan 1, 1940

By S. E. Bretherton

Most metallurgists appreciate the great need of a process for the extraction and recovery of valuable metals from complex ore, where the presence of one metal increases the cost of extracting the other rnetals to such an extent that not any of the metals can be extracted at a profit. We need only refer to some of the mines in Colorado, Utah, and New Mexico, where oxidation has taken place and the sulphur, zinc, copper, and some of the iron and other metals have been leached out, large bodies of oxidized ore remaining, rich in lead, silver, and sometimes gold. These metals have been concentrated by the removal of the other metals, leaving a very desirable ore for treatment in the blast-furnace for the production of lead bullion, and recovery of the silver and gold. If lead is not present, the gold and silver metals are usually recovered by some method of milling, or the ore is shipped to a smelter, where it is mixed with lead ore or copper-iron sulphide ore from some other mine. In these same mines, when developed to greater depth below the leached or oxidized zone, the ore is found to contain the original mixture of sulphur, zinc, copper, etc., added to, or I should say left with, the lead, silver, and gold values; but instead of adding to the value of the ore, the presence of these elements, especially zinc, makes the copper, silver, and gold of less value, and often worthlees. Such was the experience of the oldest mines in Leadville,.Colo., until methods of mechanical separation of the lead from the zinc were developed sufficiently to allow of some profit by the making of a concentrate rich in zinc to be shipped to the zinc smelter, and sometimes a lead concentrate which could be shipped to the lead smelter; but even in these cases the waste of the different metals is a very serious matter. In the very best concentrating plants some zinc will be left in the lead concentrate, to be lost and to give considerable trouble in the lead-smelting furnace. On the other hand, some of the lead, with a large percentage of the copper and silver, will follow the zinc into the zinc concentrate, to be, perhaps, recovered by smelting the cinder or clinker left in the re-

Jan 1, 1915

By Stanley C. Herold

A few hates on the occurrence and significance of mud volcanoes in Colombia may be of interest at the present time, owing to the renewed activity in geological exploration of the coastal regions bordering the Caribbean Sea. The best-known volcanoes are found a few miles from the seacoast. One is situated to the south of Puerto Colombia; the second, to the east of Cartagena near the village of Turbaco; and the third, near the village of Puerto Escondido south of the Sinu River. Others are reported in more inaccessible localities. Usually they stand 2 1/2 or 3 ft. (0.762 or 0.914 m.) above the surrounding ground at the crater, though several craters from 10 to 20 ft. -(3.04 to 6.09 m.) "apart will often build up an extensive mound at low gradient. The shallow mound may cover 1/2 or 3/4 acre (0.2 to 0.3 ha.) with an elevation of 12 or 15 ft. (3.65 or 4.57 m.) at the, center. The craters are formed of hardened blue clay; the inside diameters vary from 14 to 24 in. (35.56 to 60.96 cm.). The rim is continuous, except on one side where there is usually a cut 3 or 4 in. deep, thus allowing an overflow. The craters are filled to the' rim-cut with a thick mixture of blue clay mud and water, which is kept in agitation by escaping gas. Fig. 1 shows the bubble in the act of bursting and Fig. 2 the appearance of the surface of the viscous fluid a second or so later. The frequency of the explosions is determined by the weight of the column of fluid in the neck of the volcano, consequently, such explosions are not synchronous in a group of craters. Ordinarily, there arc two or three explosions in about 3 minutes. The supply of gas is small but steady and sufficient pressure must accumulate before the bubble can enter the column of fluid. The water is derived from the surface and enters the scdirnentary strata not far distant from the volcano. During long dry seasons, as the supply of water fails the volcano dries and geyser action ceases. The temperature of the muddy fluid is normal; the gas is dry and inflammable. - No petroleum products come with the gas. On the surface of the fluid, there is sometimes a dark brown streaky scum, which

Jan 1, 1920

By H. W. Camp

RESEARCH is defined, scientifically, as a "sys- tematic investigation of some phenomenon, and also a search for hidden treasures." Chemists tell us that the hidden treasures of petroleum are far richer than the .products which have been best known to us. However, these secrets will be discovered only through intensive and systematic, as well as scientific, industrial research. Indeed, the scope of the subject is so great that such an intensive research program should be assumed by a centralized organization supported by the petroleum industry as a whole. Such organization would assume the responsibilities for investigation of new products and development of markets for such products. Gasoline, the chief product of the petroleum industry, has become a cheap commodity. The continual un-controlled overproduction of crude petroleum, the in-tensive competitive condition in the marketing of petro-leum products and the increase of refining efficiency and installing of cracking facilities, have all combined to lower the market value of gasoline. The lower cost of gasoline has all been passed on to the purchaser in the form of lower prices so that today the most important product can scarcely be manufactured at a profit. In other fields, manufacturing industries have diversified their products when faced by a similar situation. Thus, they have been able to widen their marketing outlook. Why cannot the petroleum industry employ the same tactics ? Right now we are hearing much discussion concerning the development of a wider market for existing petro-leum products and new products for existing or prospec-tive markets. For instance, we can cite recent develop-ments for use of propane, butane, and ethylene. Butane has been found to be an efficient and inexpensive re-frigerant, especially adapted to home refrigerating sys-tems. Propane and butane fractions of natural gasoline may be shipped under pressure and may be used as a substitute for acetylene in cutting torches in connection with oxygen. There is a possibility of substituting butane for gas oil in the carbureting of coal gas, as we know that butane contains practically the gas enrich-ment as the same volume of gas oil and should prove to be a superior product for this function. Ethylene, a hydrocarbon present in cracked gases, is finding an outlet for the artificial ripening of green fruits. The following table . shows the more general use of petro-leum products as now established.

Jan 4, 1928

W. E. WRATHER, Wichita Falls, Tex. (written discussion*).-The appearance of Mr. Brokaw?s with-the chemical composition of "paraffin dirt" will be welcomed by oil geologists who have worked in the Gulf Coast district. It is to be hoped that it will lead to a discussion of the subject which will throw some light on the relation this peculiar substance bears to the occurrence of oil deposits. The problem of locating oil pools in advance of drilling is at the best a very intangible matter in the district along the Gulf Coast, and it is therefore desirable to make the most of any clew which may be of the least assistance to this end. Geologists have been familiar with "paraffin dirt" for a number of years, and have informally discussed its value as a surface indication of oil. But doubtless owing largely to the fact that they have been unable to define its exact composition, very little information has appeared in print on the subject. The presence of this baffling and somewhat indeterminate substance is now quite generally accepted as one of the most reliable indications of a gas seepage. The question is whether paraffin dirt necessarily indicates that the escaping gas is an emanation from an oil deposit, or whether it merely indicates that marsh gas (urethane) has here escaped from its source in "the abundant decomposing vegetation entombed in the sediments of the old Mississippi Embayment, and the Gulf Coastal Plain. The presence of this material has been relied upon to a great extent, both by oil producers and geologists, in the location of wildcat wells, since the discovery that it was associated with gas seepages. It is quite true that other surface indications were often present at such localities, but if, in addition, paraffin dirt could be found in the vicinity, this fact was accepted as the final justification for drilling a test well, despite the fact that no one seemed to understand its chemical composition or to know why it should be associated with oil. In fact, for a long time it has generally been accepted that the name is a misnomer, that very little, if any, paraffin is present in it, or, for that matter, any other known fraction of crude oil.

Jan 7, 1918

FOLLOWING the presentation at the annual meet-ing of the paper "Recent Developments in Classi-fication," by A. M. Gaudin and W. L. Remick, the discussion presented below took place: H. N. Spicer : I haven't been able to study this paper closely, but I would like to ask 'Mr. Remick something regarding the work done by the mechanical classifier. The screen test given here would appear to show that the classi-fier did very, very poor work. The 44 per cent efficiency calculated from this equation is much lower than any ordinary operation. Nothing is stated regarding the de-tails. of the operation, the slope of the classifier, the dilu-tion, the speed, and such other factors that influence results. I would also like to know something of the material that was worked. The Manhattan schist that I have seen them digging out of the subways is of a flaky nature, so that in any classifier, you might get the factor of fine flakes floating over. Was the same material used in the hydrotator test? The screen tests vary a whole lot. Mr. Remick: You will notice the Dorr classifier han-dled the circulating load. This classifier naturally was run in closed circuit. I should like to be pardoned for quoting from Mr. Bates' paper of last year on "Classifica-tion in the Witwatersrand Mills." In this report only two efficiencies were given for the so-called straight type Dorr classifier. One was 44.6 per cent and the other 61.6. I don't know whether or not an average should be taken for the proper performance. I assume that that test was performed under better conditions, yet the efficiencies av-eraged only 53.1 per cent. I am afraid I am taking the words out of Professor Taggart's mouth, but he has told me that the Dorr classi-fier at Columbia is not the proper size to work with the Hardinge mill with which it is connected. This indicates only the inadvisability of putting commercial sized mat chines in a school laboratory. You cannot, he says, get the proper tonnage from the Hardinge mill to work the Dorr classifier and get the best results. Mr. Bates' results show higher efficiency with the lower capacity. Now, on the other hand, I assume that the classifier described in Mr. Bates' paper was probably run at the proper capacity.. It is a rather puzzling question.

Jan 4, 1927

By W. Irwin Moyer

Two methods for the rapid valuation of oil properties are in common use. The one best known and most widely used is the "per barrel" value, based on the present daily production of the well, without regard to its past performance or the history of the sand or pool from which it produces. The second method is the "time to pay out," or the length of time required for a well to place itself upon the credit side of the ledger, from which time the returns from its production (less the operating expenses) will be clear profit. The time basis for valuation is also commonly used in the appraisal of an undeveloped lease. In most oil fields, it is not thought good business to invest in production that will not pay out in at least 4 to 5 years. Nearly all buyers (except in certain regions of very persistent production like the deep-sand territory of the Appalachian field) expect wells to pay out in considerably less time than this. Like the barrel per day price, the time necessary for a well to pay out has been determined for each field, so that one frequently hears a field or district referred to as having a certain time to pay out. This is considered the norm for that field or district and the buyer and seller base their value, to greater or less extent, on their belief in the accuracy of this time. The writer long ago became convinced of the inaccuracy of the barrel per day method, except when greatly modified for local conditions, such as the age of the wells, their economic limit, operating conditions in the field, the future price of oil, and the persistence of the sand as a producer. When so modified, this method becomes more of an analytic or predicted probable yield valuation. While the appraiser may not go through each step in a valuation based on future returnable revenue, his knowledge of the field and the local conditions surrounding his leases make it possible for him to estimate a fair sales value that, in many cases, will be a close approximation to the truth. This is quite different from the commonly understood barrel per day value, in that the conditions surrounding the sale of one lease or property at a fair market value may

Jan 1, 1922

Discussion of the paper of E. C. HARDER, presented at the Pittsburgh meeting, October, 1914, and printed in Bulletin No. 94, October, 1914, pp. 2573 to 2586. I. C. WHITE, Morgantown, W. Va.-I have seen some of the great iron-ore deposits described in this paper. -One of these in the State of Minas Geraes appears to be an immense mountain of iron ore about 2,000 ft. in height. All over its surface from bottom to top may be seen large masses of rich iron ore, varying in weight from a few pounds to several tons, and from all that one can judge without exploitation, the quantity of available ore is certainly very large in this particular mountain. Whether it will prove a mere surface deposit or shell, like the famous Iron Mountain of Missouri, is for future exploration to determine. The question of transportation is the main factor in determining the availability for exportation of these Brazilian iron ores. There is no coal in Brazil that can be manufactured into coke without expensive previous treatment, since the best of the raw coal in the States of Rio Grande do Sul, Santa Catharina, and Parana, contains about 35 per cent. of ash, of which about 6 per cent. is sulphur, and coal of this composition cannot be utilized in iron smelting without purification. When I was chief of the Brazilian Coal Commission in 1904 to 1906, I had a cargo of this coal shipped to Balk, Germany, and treated in the great coal-testing plant of the Humboldt Engineering Works, located just across the Rhine from Cologne. It was found that by crushing and washing the Brazilian coal, it yielded 33 per cent. of briquetting coal, containing only 10 to 12 per cent. of ash (of which 1 per cent. was sulphur), and 42 per cent. of slack coal, with 25 per cent. of ash and low in sulphur, so that about 33 per cent. of the Brazilian coal could be converted into coke of fair quality, as shown by the following average of three analyses, using air-dried coal, of briquets made from the Barro Branco coal bed, State of Santa Catharina: Moisture 1.56 Volatile matter 31.66 Fixed carbon 56.73 Ash : 10.05 Total 100.00 Sulphur 1.34 Phosphorus 0.003 B.t.u 13,395

Jan 4, 1915

By H. F. Seifert

The classification and preparation of non-ferrous scrap mctals is a subject of interest to every individual and corporation that employs in its processes of manufacture non-ferrous metals and alloys and accurnulates in such manufacture scrap from these materials for disposition in the form of turnings, borings, short ends, punchings, clippings, grindings, washings, etc. All too frequently the disposition of such scrap is left to indivitluals who have no knowledge of the subject either from a metallurgical or a commercial standpoint, or both. Much money is thus lost whicli with a little more intelligent effort might be saved, and in this day of fierce competition and small profits such an opportunity cannot be ignored. The Mineral Resources of the United States for the year 1925, the latest issue available (Part 1, page 221), gives the secondary non-ferrous metals of certain classes recovered in the United States for the year 1924 to 1925 as shown in Table 1. The figures are tabulated simply to give the reader some idea of the scope of the secondary non-ferrous metal industry. Approximately 900,000 tons of an annual value of $244,000,000 were recovered in the year cited. In 1916 (again using thc Mineral Resources of the United States as authority) the tonnage reclaimed was approximately 632,000 tons and the value, because of the high prices for metals prevailing at that time, amounted to $265,000,000. It is not the purpose of this paper to discuss smelting and refining operations or the feasibility of an organization, primarily engaged in some other activity, conducting smelting and refining operations to convert its own non-ferrous scrap metals and alloys. The classification and preparation of these non-ferrous materials is a preliminary step, regardless of what subsequent operations the material may pass through or where these operations may be conducted. For that reason the subject can he readily discussed without any reference to subsequent activities. Space must be provided, with suitable handling facilities, scales and the necessary storage bins where the material may be accumulated. The scope of the activity, the nature of the industry and the tonnage handled will determine, in a large measure, what preparation, if any, it rrlay he desirable to give these scrap materials to put them in the best niarketable condition. By preparation is rneant largely what, for the want of a